MIRA INFORM REPORT
|
Report Date : |
19.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMSUNG INDIA ELECTRONICS PRIVATE LIMITED (w.e.f. 25.07.2005) |
|
|
|
|
Formerly Known
As : |
SAMSUNG INDIA ELECTRONICS LIMITED |
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Registered
Office : |
A-25, Ground Floor, Front Tower, Mohan Co-operative Industrial Estate,
New Delhi – 110 044 |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
03.08.1995 |
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|
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Com. Reg. No.: |
55-071387 |
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Capital
Investment / Paid-up Capital : |
Rs.2618.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31900DL1995PTC071387 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS19222A |
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PAN No.: [Permanent Account No.] |
AAACS5123K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing and trading of Audio Visual products, Home Appliances, Information Technology products and Hand Held Phones and development and export of software. |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
Maximum Credit Limit : |
USD 118420000 |
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|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Samsung Electronics Company Limited, Korea It is well established and reputed company having fine track record. The company has shown a significant growth in the turnover and
profitability during current year. No borrowings have been recorded. Financial position of the company
appears to be sound and healthy. Trade relations are fair. Business is active. Payments are reported to
be regular and as per commitments. The company has become No.1 Mobile brand in the country as well as
No.1 position in the fast growing smartphone market in India. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social responsibility
in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
A-25, Ground Floor, Front Tower, Mohan Co-operative Industrial Estate,
New Delhi – 110 044, India |
|
Tel. No.: |
91-124-4881234 |
|
Mobile No.: |
91-9962080541 (Mr. Arun) |
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Fax. No.: |
91-124-4881415 / 4882122 / 4882021 |
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E-Mail : |
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Website : |
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Factory : |
Plot No.1, P-1, SIPCOT Industrial Park, Phase II, Sunguvarchatram,
India |
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Tel No.: |
91-124-4881234 |
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Fax No.: |
91-124-4882021 |
DIRECTORS
AS ON 22.08.2012
|
Name : |
Mr. Byong Dae Park |
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Designation : |
Managing Director |
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Address : |
Flat No.610A, Tenth Floor, Aralias, DLF Golf Links, Gurgaon – 122002,
Haryana, India |
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Date of Birth/Age : |
14.02.1959 |
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Date of Appointment : |
16.04.2009 |
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DIN No.: |
02606590 |
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Other Directorship:
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Name : |
Mr. Ravinder Zutshi |
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Designation : |
Whole-time Director |
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Address : |
C-215, Sector 44, Noida – 201 303, Uttar Pradesh, india, India |
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Date of Birth/Age : |
19.12.1954 |
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Date of Appointment : |
25.05.2005 |
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Date of Cessation : |
12.10.2012 |
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DIN No.: |
00520290 |
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Name : |
Jae Hyun Kyung |
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Designation : |
Whole Time Director |
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Address : |
D151A, Second Floor, Defence Colony, New Delhi – 110024, India |
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Date of Birth/Age : |
09.02.1964 |
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Date of Appointment : |
01.02.2010 |
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Date of Cessation : |
15.04.2013 |
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DIN No.: |
02918759 |
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||||||||||||||||
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Name : |
Wan Soo Kim |
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Designation : |
Whole Time Director |
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Address : |
Yire Exim Hotels Private Limited, S-3789 (G.F), Panchsheel Park, New
Delhi – 110017, India |
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|
Date of Birth/Age : |
27.08.1961 |
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Date of Appointment : |
24.02.2012 |
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Date of Cessation : |
15.04.2013 |
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DIN No.: |
05195243 |
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||||||||||||||||
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Name : |
Soon Young Lee |
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Designation : |
Director |
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|
Address : |
112, Dong, 1202, HO Sinmaetan Wevhaneichae Apartment, Maetan 3, Dong
Ypungtong Gu, Suwon City, Kyunggi Do, Korea-443751 |
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Date of Birth/Age : |
17.05.1960 |
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Date of Appointment : |
20.05.2011 |
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Date of Cessation : |
12.10.2012 |
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DIN No.: |
03527809 |
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||||||||||||||||
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Name : |
Kyung Jin Kim |
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Designation : |
Director |
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Address : |
No. 102, B108, Gangnam Apartment, Geumgok Dong, Cownseon-Gu, Suwon-51,
Korea-441746 |
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Date of Birth/Age : |
09.11.1963 |
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Date of Appointment : |
20.05.2011 |
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Date of Cessation : |
12.10.2012 |
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DIN No.: |
03527797 |
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||||||||||||||||
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Name : |
Mr. Kwang Woo Cho |
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Designation : |
Whole-time Director |
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Address : |
B-24, Second Floor, Geeranjali Enclave, New Delhi – 110 017, India |
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Date of Birth/Age : |
19.01.1958 |
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Date of Appointment : |
18.07.2008 |
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Date of Cessation : |
24.02.2012 |
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||||||||||||||||
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Name : |
Mr. Jungsoo Shin |
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Designation : |
Chairman cum Managing Director |
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Address : |
Flat No.905 B, Fifth Floor, Aralias, DLF Golf Links, Gurgaon – 122
002, Haryana, India |
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Date of Birth/Age : |
24.07.1954 |
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Date of Appointment : |
16.04.2009 |
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Date of Cessation : |
21.12.2011 |
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KEY EXECUTIVES
|
Name : |
Mr. Sachin Baweja |
|
Designation : |
Secretary |
|
Address : |
B-221, Sector 55, Noida-201301, |
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Date of Birth/Age : |
26.04.1975 |
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Date of Appointment : |
18.05.2007 |
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Election Commission Identity Card No. |
FJF4125100 |
|
PAN No : |
AHMPB0514F |
MAJOR SHAREHOLDERS
AS ON 22.08.2012
|
Names of Shareholders |
No. of Shares |
|
Samsung Electronics Company Limited, Korea |
216787486 |
|
Samsung Asia Pte Limited, Singapore |
18 |
|
TOTAL
|
216787504 |
Equity Share Break up (Percentage of Total Equity)
AS ON 22.08.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and trading of Audio Visual
products, Home Appliances, Information Technology products and Hand Held
Phones and development and export of software. |
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|
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity *
@ |
Actual
Production |
|
Color Televisions |
Nos. |
4050 |
3153143 |
|
Color Monitors |
Nos. |
750 |
508591 |
|
Washing Machines |
Nos. |
900 |
792211 |
|
Refrigerators |
Nos. |
1110 |
1556040 |
|
Mobile Phone |
Nos. |
11400 |
-- |
|
Air Conditioner |
Nos. |
1740 |
1024718 |
|
Hand Held Phones |
Nos. |
-- |
9941834 |
* As certified by
the management and accepted by auditors, being a technical matter
@ On single shift
basis, except in case of Mobile Phones where it is based on triple shift basis.
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
|
|
|
|
Bankers : |
·
State Bank of India, Nepz Branch B, Phase II,
Noida-201301, Uttar Pradesh, India. · ICICI Bank Limited, 9-A, Phelps Building, Connaught Place, New Delhi - 110 001, India ·
Bank of America,
Barakhamba Road, New Delhi, India ·
Deutsche Bank, New Delhi Branch, Tolstoy House,
15-17, Tolstoy Marg, New Delhi – 110 001, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Building 8, 7th and 8th Floor, Tower-B, DLF, Cyber
City, Gurgaon – 122 002, Haryana, India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Holding Company : |
Samsung Electronics Company Limited, Korea |
|
|
|
|
Fellow Subsidiaries : |
·
Samsung Vina Electronics Company Limited, Vietnam ·
Samsung Asia Private Limited, Singapore ·
Samsung Electronics Australia Pty. Limited,
Australia ·
Thai-Samsung Electronics Company Limited,
Thailand ·
Samsung Electronics Hong Kong Company Limited ·
Tianjin Samsung Electronics Display Company
Limited ·
P.T. Samsung Electronics, Indonesia ·
Samsung Malaysia Electronics (SME) SDN. BHD ·
Samsung Electronics Huizhou Company Limited ·
Samsung Electronics Vietnam Company Limited ·
Samsung Electronics Display(M) SDN.OMD.(HSD) ·
Samsung Gulf Electronics Company Limited ·
Samsung Electronics Limited(SEUK) ·
Samsung Kwangju Electronics Company Limited ·
Samsung Japan Company Limited ·
Samsung Electronics America Inc ·
Samsung Electronics Hungarian RT. Company
Limited, Hungary ·
Samsung Electronics Europe Logistics B.V.,
Netherlands ·
Samsung Electronics Slovakia s.r.o, Slovakia ·
Samsung Electronics Malaysia SDN.BHD ·
Samsung Electronics (Shandong) Digital Printing
Company Limited, China ·
Tianjin Samsung Electronics Company Limited ·
Tianjin Tongguang Samsung Electronics Company
Limited, China ·
Samsung Electronics Taiwan Company Limited ·
Tianjin Samsung Telecom Technology Company
Limited ·
Samsung Electronics Suzhou Computer Company
Limited ·
Samsung Electronics Beijing Service Company
Limited ·
Samsung Electronics Philippines Manufacturing
Corporation ·
Samsung Electronics Philippines Corporation,
Philippines ·
Samsung Eletronica DA Amazonia Limited, Brazil ·
Samsung India Software Operations Private
Limited, India ·
Suzhou Samsung Electronics Company Limited, China ·
Samsung Suzhou Electronics Export Company Limited,
China ·
Samsung Electronics South Africa (Pty) Limited ·
LLC Samsung Electronics Rus Kaluga, Russia ·
SEHF Korea Company Limited, Korea ·
Tianjin Samsung Opto-Electronics Company Limited ·
LLC Samsung Russia Service Center, Russia ·
Samsung Electronics Mexico S.A. de C.V., Mexico ·
Samsung Electronics Morocco SARL , Morocco ·
Samsung Electronics Overseas B.V., Netherlands ·
Samsung Electronics, Turkey ·
Samsung International Inc., USA ·
Shanghai Samsung Semiconductor Company Limited,
China ·
Shenzhen Samsung Kejian Mobile Telecommunication
Technology Company Limited, China |
CAPITAL STRUCTURE
AS ON 22.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
244000000 |
Equity Shares |
Rs.10/- each |
Rs.2440.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
216787504 |
Equity Shares |
Rs.10/- each |
Rs.2168.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2618.000 |
2168.000 |
2168.000 |
|
(b) Reserves & Surplus |
27437.000 |
10294.000 |
6682.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
29605.000 |
12462.000 |
8850.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1321.000 |
261.000 |
173.000 |
|
(d) long-term
provisions |
3968.000 |
5687.000 |
3216.000 |
|
Total Non-current
Liabilities (3) |
5289.000 |
5948.000 |
3389.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
1540.000 |
5165.000 |
|
(b) Trade
payables |
56169.000 |
27412.000 |
20816.000 |
|
(c) Other
current liabilities |
4955.000 |
2866.000 |
2619.000 |
|
(d) Short-term
provisions |
5656.000 |
3453.000 |
1781.000 |
|
Total Current
Liabilities (4) |
66780.000 |
35271.000 |
30381.000 |
|
|
|
|
|
|
TOTAL |
101674.000 |
53681.000 |
42620.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
12073.000 |
11559.000 |
8814.000 |
|
(ii)
Intangible Assets |
106.000 |
47.000 |
21.000 |
|
(iii)
Capital work-in-progress |
105.000 |
61.000 |
177.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1552.000 |
1347.000 |
659.000 |
|
(d) Long-term Loan and Advances |
1523.000 |
484.000 |
869.000 |
|
(e) Other
Non-current assets |
685.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
16044.000 |
13498.000 |
10540.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
29840.000 |
19855.000 |
16188.000 |
|
(c) Trade
receivables |
18285.000 |
11640.000 |
10144.000 |
|
(d) Cash
and cash equivalents |
32329.000 |
4438.000 |
278.000 |
|
(e)
Short-term loans and advances |
4198.000 |
3445.000 |
4461 |
|
(f) Other
current assets |
978.000 |
805.000 |
1009.000 |
|
Total
Current Assets |
85630.000 |
40183.000 |
32080.000 |
|
|
|
|
|
|
TOTAL |
101674.000 |
53681.000 |
42620.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
|
TOTAL (A) |
277723.000 |
197790.000 |
148704.000 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Office Expenses |
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
|
TOTAL (B) |
250409.000 |
187180.000 |
144433.000 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27314.000 |
10610.000 |
4271.000 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
76.000 |
50.000 |
197.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
27238.000 |
10560.000 |
4074.000 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
2988.000 |
2677.000 |
2091.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
24250.000 |
7883.000 |
1984.000 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
7107.000 |
4272.000 |
1223.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
17143.000 |
3611.000 |
761.000 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Finished Goods |
4959.000 |
2228.000 |
1355.872 |
|
|
|
|
Components |
411.000 |
611.000 |
0.000 |
|
|
|
|
Software Exports |
6997.000 |
3797.0000 |
2586.258 |
|
|
|
|
After Sales service Income |
214.000 |
177.0000 |
341.867 |
|
|
|
|
Reimbursement of Marketing, Services and Other Expenses |
326.000 |
24.000 |
40.324 |
|
|
|
|
Miscellaneous Income |
91.000 |
75.000 |
137.082 |
|
|
|
TOTAL EARNINGS |
12998.000 |
6912.000 |
4461.403 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
CIF Value |
174281.000 |
125022.000 |
94128.174 |
|
|
|
|
Others |
5643.000 |
3268.000 |
0.000 |
|
|
|
TOTAL IMPORTS |
179924.000 |
128290.000 |
94128.174 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
79.08 |
16.66 |
3.51 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.17
|
1.83 |
0.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.79
|
15.22 |
4.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.82
|
0.63 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.12 |
0.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28
|
1.14 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE: Registered
office of the company has been shifted from Suites No.101-103, 1st Floor,
Copia Corporate Suites, Plot No.9, Jasola District Centre, New Delhi – 110 025,
Delhi, India, to the present address w.e.f. 21.03.2011.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Term Loans from
Banks |
0.000 |
1540.000 |
|
|
|
|
|
Total |
0.000 |
1540.000 |
NOTE: No Charges Exist
for Company.
PERFORMANCE:
The Directors are pleased
to inform that subject clocked an increase of 40.41% in its Sales and other
Income for the year ended 31st March, 2013 as compared to the
previous year. During the period subject was able to achieve terrific
profitability on account of more efficient product mix with the profit before
tax increasing by 207.62% and the profit after tax increasing by 374.74% as
compared to the previous year.
SIGNIFICANT DEVELOPMENTS:
Subject became the
No.1 Mobile brand in the country as well as consolidated its No. 1 position in
the fast growing Smartphone market in India. Subject also retained its market
leadership in Panel TVs. Subject was awarded as the Consumer Durable Company of
the year by NDTV Profit Business Leadership Awards.
HHP AND TABLET:
Subject strengthened
its presence in the fast growing Mobile and tablet segments by introducing
innovative, iconic devices like the Galaxy Note 2, Galaxy S3 and redefined the
Smartphone market by launching devices like the Galaxy Grand in January, 2013.
Subject created new segments in the market by launching Smart mobile devices
like the Samsung Galaxy Camera and Galaxy Note 800. The Galaxy Camera combines
high performance photography features with Android 4.1 (Jelly Bean) and the
freedom of 3G/4G+ Wi fi connectivity to create the world’s first truly
connected camera. Subject is the market leader by value in both the Smartphone
and the overall mobile market in India with a 46.2% market share in Smartphones
and a 42.3% market share in overall mobiles as per GFK in March, 2013.
In December 2012,
subject achieved a milestone in India by selling more than 10 million Galaxy
devices in the Indian market. In keeping with the growing preference of Indian
consumers for dual sim devices, Samsung India created a new segment in the Smartphone
market by launching Dual Sim Smartphones like Galaxy y Duos, Galaxy y Duos lite
and Galaxy Ace Duos that met with a very strong consumer acceptance.
PANELS:
A global market
leader in flat-panel TVs, subject retained its market leadership in India by
launching its new 2012 range of LED TVs comprising of the India customized EH
and ES Series of LED TVs as well as its flagship, interactive Series 7 and 8
Smart Televisions subject which is a market leader in Flat Panel televisions,
both globally and in India, continues to lead in the market by being the first
to launch innovative new technologies like LED TVs (2009), 3D LED TV (2010),
Smart TV in 2011 and the new, interactive 2012 Smart TVs with features like
Voice Recognition, Gesture control and Face Recognition. The new EH and the ES
series incorporated “India customized” features such as Triple Protector for
protecting the LED TV against electrical surges and lightning as well as
humidity. In October 2012, subject also introduced its rose coloured, ultimate,
extra large screen premium television - the 75ES9000 LED TV in the Indian
market.
HOME APPLICANCE:
Subject enriched
its Home Appliances product portfolio with features developed keeping in mind
the needs of the Indian consumers, thus, the Cool pack feature was incorporated
in Direct Cool refrigerators and the versatile EZ Wash Tray in the “Indus” semi
automatic washing machine range. With a strong compressor that can stably
operate despite high fluctuation of voltage (135V to 290V) or at 50’, the 2012
Direct Cool refrigerators eliminate the need of a separate stabilizer providing
better energy efficiency while saving on space. The innovative “Coolpack”
feature delays the rise in temperature even when the power is off and prevents
food from spoiling quickly even during a blackout subject today offers the
largest portfolio of 5 star rated Frost Free refrigerators in the County.
Subject also introduced the widest range of new 2012 BEE star rated Split ACs
with “Triple Protection” benefit comprising of Virus Doctor technology,
stabilizer free operations and UTR Plus Compressor .the Company also made a
foray into the Dishwasher Segment in June 2012 by launching the DW ‘FN320T
dishwasher.
INFORMATION TECHNOLOGY:
Subject
strengthened its IT Portfolio by launching a slew of Windows 8 based Smart
devices in the Indian market. The Smart devices launched include the ATIV Smart
PC and ATIV Smart PC Pro Series 5 Ultra Touch, Samsung’s first touch enabled
Ultrabook, Samsung series 9 with 15’ display and AMD based Series 5 Ultrabook.
Subject also strengthened its premium IT Portfolio by launching the world’s
thinnest and most compact premium notebook, Series 9 in the Indian market.
AWARDS AND RECOGNITION:
In 2012 subject
won several awards and recognitions for both its corporate initiatives as well
as its innovations across its product categories. Subject was awarded the first
prize for its energy efficient Refrigerator range at the National Energy
Conservation Awards 2012. Smart Photography Magazine awarded the “Best
Innovation of the Year” award to Samsung India for the Galaxy S3. In stuff
magazine’s 2013 Gadget Awards, Galaxy S3 was awarded the “Gadget of the Year”,
Galaxy Note 800 and Galaxy Tab 2 with the “Tablet of the Year” (runner up) and
the MV 800 won the “Best Innovation in Camera Technology” award from Asian
photography and the Golden Peacock Award for the “Most Innovative Product of
the Year”.
Subject also made
a clean sweep at the TechLife Awards, winning “The Eye Candy of the Year” for
Smart TVs, the “Most Popular Smartphone Brand” of the Year and the “Most
Popular Budget Phone” of the Year. Samsung was named as the “Coolest Brand” in
Pitch Magazine’s Youth Brand Survey and in the Brand Equity Top 100 Most Trusted
Brands, Samsung was ranked No.1 in the Laptop Category. At the NDTV Gadget Guru
Awards, Samsung Galaxy Note won the “Innovation of the Year” and “Gadget of the
Year Awards”.
FIXED ASSETS:
·
Leasehold Land
·
Buildings
·
Leasehold Improvements
·
Plant and Machinery
·
Office Equipment
·
Computers
·
Furniture and Fixtures
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.63 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.84.56 |
INFORMATION DETAILS
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
73 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.